Founders Metals Provides Corporate Update on the Antino Gold Project

• The most recent release (May 19, 2026) confirms the end of the earn-in period for the Antino Gold Project.
• Founders Metals has elected not to exercise the "Third Option" to acquire an additional 5% equity interest in Lawa Gold N.V.
• The company maintains a 70% interest in the project and will continue as the operator under the joint venture agreement with Nana Resources N.V.
• This follows previous milestones where Founders exercised Stage 1 (51%) and Stage 2 (additional 19%) options to reach the current 70% level.
• The decision shifts the project governance from an earn-in structure to a formal Joint Venture phase.

• Impact Level: Routine - Neutral.
• Reasoning: This news represents a contractual milestone completion rather than new value creation or capital injection. The decision not to exercise the Third Option (to reach 75%) is strategic but does not materially alter the asset's exploration potential or funding status, given the strong backing from Gold Fields.
• Context: Previous news in April 2026 showed significant high-grade drilling results and a stake increase by Gold Fields to ~12.5%, which were material positive catalysts. This update is administrative regarding the partnership with Nana Resources.
• Market Expectation: The market likely anticipated the end of the earn-in period; therefore, the announcement lacks surprise factor required for a "Material" rating.

• Company: Founders Metals Inc. (TSX-V: FDR).
• Flagship Project: Antino Gold Project, Suriname.
• Land Package: Consolidated 102,360 hectares in southeastern Suriname (Guiana Shield).
• Project Status: Exploration / Development (Advanced and Intermediate Targets).
• Geology: District-scale gold system with high-grade shear-hosted mineralization and bulk-tonnage intrusion-hosted zones.
• Operations: Four diamond drill rigs active across Upper Antino, Lower Antino, Antino North, and Parbo targets.